Mastercard chooses Polygon to launch cryptocurrency transfers using verified usernames

Key poiyns:

• Mastercard will implement the Crypto Credential system, which allows cryptocurrency to be sent to verified usernames instead of addresses.
• Polygon will provide fast transaction confirmation, while Mercuryo will handle identity verification and alias issuance.
• The solution reduces the risk of errors and automatically blocks incompatible transfers between networks.

Mastercard has launched a new phase of development for Crypto Credential, a system that allows digital assets to be sent to verified usernames rather than long wallet addresses. To do this, the company has chosen the Polygon blockchain, which will provide high throughput and low fees.

According to Mastercard’s press release, the solution standardizes the on-chain address verification mechanism and adds an extra layer of protection for self-custody wallets. Users will now be able to create a single alias and link their addresses on different blockchains to it.

How the system works

Mercuryo will conduct KYC checks and issue verified pseudonyms to users. These pseudonyms can be linked to multiple wallets and then used instead of complex address strings.

The technology also includes a special token on Polygon that confirms that the wallet supports transfers via Crypto Credential. This will help applications automatically route transactions to the correct network and block attempts to send assets to an incompatible chain.

Why users need it

Long crypto addresses often lead to errors, especially for beginners — one wrong character is enough to lose funds. The new system makes the process similar to regular money transfers by user name.

Mastercard notes that using Crypto Credential saves time and reduces the likelihood of errors when copying and pasting addresses. Each transaction between users with verified Credentials is double-checked: the system confirms the recipient’s identity and network compatibility, and issues a warning if there is a mismatch.

How to connect to the service

According to the release, users must:

• complete KYC through Mercuryo;
• create a Crypto Credential Username;
• link on-chain addresses;
• use the username for transfers between verified participants in the system;
• optionally issue a soulbound token confirming wallet compatibility.

Soulbound tokens are non-transferable and serve as digital wallet credentials, confirming that the address supports verified transfers.

Polygon will be the key network for processing transactions. Mastercard claims that blockchain is capable of handling a flow of transactions comparable to real-world payment systems, making it suitable for mass adoption.

The launch of Crypto Credential could be a step towards a more understandable and secure crypto payment infrastructure — especially in the self-custody wallet segment, where user errors remain one of the most common causes of fund losses.

Mastercard is also exploring the purchase of the Zerohash platform for $1,5–2 billion to strengthen its position in the stablecoin market. The integration of Zerohash will give the company direct control over the exchange between fiat and digital assets. According to forecasts by Keyrock and Bitso, the stablecoin payment market could grow to $1 trillion by 2030.